Distribution of Profits. Any and all net income accruing to the Joint Venture shall be distributed equally to the Parties.
Distribution of Profits. 11.2.1 For each profit distribution, the Management Company shall instruct the Trustee to transfer such amount of cash as required to reflect such distribution to the Distribution Account. The amount standing to the credit of the Distribution Account shall not for any purposes of this Deed be treated as part of the Trust Property but shall be held by the Trustee upon trust to distribute the same as herein provided subject to clause 5.C.5 of this Deed.
11.2.2 After fixation of the rate of distribution per unit, distribution payments instruments shall be sent through the registered post or reliable courier service to the registered address of such Holder, or in the case of joint Holders to the registered address of the joint Holder, first named on the Register. Every such payment instruments shall be made payable to the order of person to whom it is delivered or sent and payment of the instruments (if purporting to be duly endorsed or subscribed) shall be in satisfaction of the moneys payable. When an authority in that behalf shall have been received in such form as the Management Company shall consider sufficient, it shall transfer to the Holders’ designated bank account or in case of joint Holder, to designated bank account of the joint Holder, first named in the Register. The receipt of funds by such designated bankers shall be a good discharge of Trustee’s and the Management Company’s responsibilities.
11.2.3 The Management Company may offer the Holder the option to receive new units or fractions thereof under cumulative investment instead of dividend payment, as per the terms and condition and the procedure laid down in the Offering Document.
11.2.4 Before making any payment in respect of a Unit, the Trustee or the Management Company may make such deductions as may be required by law in respect of any Zakat, income or other taxes, charges or assessments whatsoever and issue to the Holder the certificate in respect of such deductions in the prescribed form or in a form approved or acquired by the concerned authorities.
11.2.5 Where Units are placed under pledge/lien the payment of dividend will be made in accordance with Clause 29 of this Deed.
11.2.6 The Management Company may also distribute an amount, through cash dividend, bonus, combination of both or in any other form acceptable to the Commission, monthly, quarterly or interim dividend of the Fund to the Chief Executive Officer, provided that all other provisions of the NBFC Rules, NBFC & NE Regula...
Distribution of Profits. 7.1. Generally, gross cash distribution in proportion to Partners percentages of partnership interest, will be made based on the scheduled payments of processors or within 60 days of payments being made. The gross cash distribution
Distribution of Profits. 7.1. The Net Cash From Operations (as defined in Section 7.2) of the Partnership shall be distributed to the Partners in accordance with their respective Partnership Interests at such regular time or times as the Partners acting in accordance with Section 8 shall determine; provided that no distribution of Net Cash From Operations shall be made at any time when any Installment of Purchase Price (as defined in Section 19) shall be due and owing but unpaid.
7.2. As used in this Section 7, the term "Net Cash From Operations" means, with respect to any period in time:
7.2.1. The taxable income of the Partnership for federal income tax purposes as shown on the books of the Partnership for such period, increased by:
(a) the depreciation and amortization deductions taken in computing such taxable income, and
(b) any non-taxable income or receipts of the Partnership for such period, reduced by:
(i) payments made during such period of principal of any indebtedness of the Partnership for borrowed money, and
(ii) such expenditures and reserves for capital improvements or replacements, repairs, other anticipated expenses and working capital needs as the Partners, acting in accordance with Section 8, shall deem reasonably necessary for the conduct of the business;
7.2.2. Any other funds (including without limitation amounts earlier set aside for reserves but no longer deemed necessary for such purpose) deemed available for the distribution by the Partners acting in accordance with Section 8.
7.3. In addition to regular distributions made pursuant to Section 7.1, upon any sale, transfer or other disposition of any capital asset of the Partnership (hereinafter referred to as a "Disposition"), the proceeds of such Disposition net of selling or other expenses and the repayment of indebtedness secured by the asset subject to the Disposition (the "Net Proceeds") shall be retained by the Partnership or be distributed to the Partners in proportion to their respective Partnership Interests, all as the Partners acting in accordance with Section 8 shall determine.
Distribution of Profits. Any and all net profits accruing to the Joint Venture shall be held and distributed to the Parties in the following proportion:
Distribution of Profits. A. The parties hereto recognize that their own and the best interest of the joint Company will be best served by taking all reasonable steps to ensure the expansion of the production facilities of the Joint Company as rapidly as market conditions permit, and to this end, agree to retain sufficient earnings in the Joint Company before distributing profits to the shareholders, as shall be reasonably required in the circumstances to provide for such expansion and for the other requirements of conducting the affairs of the Joint Company according to sound business practices. OR
B. Before any profits of the Joint Company shall be distributed as dividends to the shareholders thereof per cent of each year’s net profits after tax shall be set aside to meet the capital and other requirements of the Joint Company.
Distribution of Profits. 4.1 Savings Account’s profit will be credited to the Account Xxxxxx’s nominated account upon approval of the competent authorities.
4.2 The Account Holder acknowledges and represents that it is fully aware of the benefits and risks associated with, or involved in, the investment under the Savings Account and that Ajman Bank in its capacity as the Mudarib/fund manager of the Common Mudaraba Pool will share the generated profit on the basis of a pre-agreed ratio/percentage while the loss, if any, shall be solely borne by the Rab ul Mal (in this case the Account Holder) unless there is a willful misconduct or gross negligence by the Mudarib.
4.3 The Account Holder consents that Ajman Bank may, in order to maintain a certain level of return on investment for investment Account Holders, appropriate for the profit equalization reserve, after approval by Ajman Bank’s ISSC, an amount out of the Mudaraba income before allocating the Mudarib’s share.
4.4 The Account Holder also consents that Ajman Bank may, in order to cater against future actual losses for investment Account Holders, appropriate for the investment risk reserve, after approval by Ajman Bank’s ISCC, an amount out of the income of investment Account Holders after allocating the Mudarib’s share.
Distribution of Profits. 8.1 The Company may on an annual basis adopt decisions to pay dividends on the distributed shares.
8.2 Dividends shall be paid in compliance with the Legislation and may be paid in any form according to a decision of the relevant Company governing body.
Distribution of Profits. In respect of those who have not completed the full tenure, the profits will be determined on a pro-rata basis for the period they were in the Fund for the relevant cycle. Only those investments that have completed a minimum of 14 days continuously in the Fund, will qualify to receive profits. Declared profits will be automatically reinvested periodically at the discretion of the Bank.
Distribution of Profits. Net profits and net losses accruing to the Joint Venture shall be distributed to the parties in: (Check one)
